First Eagle Investment Management LLC Purchases 197,317 Shares of Ferroglobe PLC (NASDAQ:GSM)

First Eagle Investment Management LLC grew its position in Ferroglobe PLC (NASDAQ:GSM) by 10.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,030,772 shares of the basic materials company’s stock after buying an additional 197,317 shares during the period. First Eagle Investment Management LLC owned 1.08% of Ferroglobe worth $7,717,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GSM. Bank of Montreal Can boosted its holdings in shares of Ferroglobe by 234.5% in the 3rd quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock valued at $15,958,000 after buying an additional 2,442,507 shares in the last quarter. Old West Investment Management LLC boosted its holdings in shares of Ferroglobe by 158.0% in the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock valued at $13,495,000 after buying an additional 1,781,024 shares in the last quarter. River Global Investors LLP bought a new stake in shares of Ferroglobe in the 4th quarter valued at about $2,408,000. Point72 Asset Management L.P. boosted its stake in Ferroglobe by 1,180.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 368,300 shares in the last quarter. Finally, Hosking Partners LLP boosted its stake in Ferroglobe by 1.8% in the 4th quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock worth $34,216,000 after purchasing an additional 159,845 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors.

Ferroglobe Stock Up 3.1 %

GSM stock opened at $4.03 on Friday. The firm has a 50 day moving average of $3.86 and a 200 day moving average of $4.13. The stock has a market capitalization of $757.18 million, a PE ratio of 201.50 and a beta of 1.89. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. Ferroglobe PLC has a 52 week low of $3.23 and a 52 week high of $6.19.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. Ferroglobe had a net margin of 0.32% and a return on equity of 6.36%. The business had revenue of $367.51 million during the quarter, compared to analysts’ expectations of $393.00 million. Sell-side analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 1.39%. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 20th. Ferroglobe’s payout ratio is presently 250.00%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GSM. StockNews.com cut shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Seaport Res Ptn cut shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.